106 E Main St · Covington, OK 73730

$75,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 194 Days on market

Built 1955

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this adorable 2 bedroom, 1 bathroom gem! Tucked away in [mention area if applicable, e. g. , a quiet neighborhood], this house combines cozy charm with the modern features you crave. Step inside to find a stunning Modern Farmhouse Kitchen & mdash; think style and function! The bathroom features a convenient walk-in shower, providing easy access and a sleek look. You& apos; ll love the dedicated laundry room, complete with a washer and dryer that stay with the home. Plus, enjoy worry-free living with a brand new Central Heat and Air system already installed, guaranteeing comfort year-round. Need storage? We& apos; ve got you covered with a decent 8x12x6 Yard Shed!

Key facts

• Walk-in shower
• Yard shed
• Built 1955

Tags

• MODERN FARMHOUSE KITCHEN
• WALK-IN SHOWER
• DEDICATED LAUNDRY ROOM
• CENTRAL HEAT AND AIR SYSTEM
• YARD SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#178 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Covington-Douglas (rural): math 25% / reading 25% proficiency, ranked #325 of 513 in OK (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Covington-Douglas Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 163 students, 0% FRL); Covington-Douglas Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 85 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 19 units permitted in Garfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($519 loan paydown + $4k appreciation (5.7% local appreciation)).
• Garfield County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 2.92×
• Total profit: $40,215
• Equity at exit: $45,682

10-year hold

• IRR: 27.9%
• Equity multiple: 5.91×
• Total profit: $103,023
• Equity at exit: $81,605

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73730

• Home prices YoY: 3.7%
• Active inventory: 3
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $313

Break-even live

Break-even rent $592

Max offer price $75,000

Occupancy floor 63%

Sensitivity live

Price	-10% $356	-5% $335	+0% $313	+5% $292	+10% $271
Rent	-10% $235	-5% $274	+0% $313	+5% $352	+10% $391
Rate	-1.0pp $351	-0.5pp $332	base $313	+0.5pp $294	+1.0pp $274

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $75,000 Active 194 DOM
2. 2026-06-21
   days on market $75,000 Active 193 DOM
3. 2026-06-18
   days on market $75,000 Active 191 DOM
4. 2026-06-17
   days on market $75,000 Active 190 DOM
5. 2026-06-16
   days on market $75,000 Active 189 DOM
6. 2026-06-15
   days on market $75,000 Active 188 DOM
7. 2026-06-13
   days on market $75,000 Active 186 DOM
8. 2026-06-12
   days on market $75,000 Active 185 DOM
9. 2026-06-09
   days on market $75,000 Active 182 DOM
10. 2026-06-08
    days on market $75,000 Active 181 DOM
11. 2026-06-08
    days on market $75,000 Active 180 DOM
12. 2026-06-05
    days on market $75,000 Active 178 DOM
13. 2026-06-04
    days on market $75,000 Active 176 DOM
14. 2026-06-02
    days on market $75,000 Active 175 DOM
15. 2026-06-01
    days on market $75,000 Active 174 DOM
16. 2026-05-31
    days on market $75,000 Active 173 DOM
17. 2026-02-06
    soldstatus $61,000
18. 2025-12-05
    listed $75,000 Active
19. 2023-08-11
    soldstatus $45,000
20. 2001-12-05
    soldstatus $22,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $519 · $43/mo
• Projected year-2 tax: $675 · $56/mo
• Expected delta: +$156/yr (+$13/mo · 30.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,865
• − Mortgage interest: −$4,201
• − Property taxes: −$519
• − Insurance: −$375
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,182
• Taxable income: $2,690
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $3,114/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Covington-Douglas
• NCES district ID: 4008790
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $48,212
• Composite: 24.93/100
• National rank: #12985
• State rank: #325 of 513 in OK

Livability — Covington

• Score: 64/100
• State rank: #178
• US rank: #14089

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covington, OK
• Population (ZIP): 619

Population outlook (Garfield County) Hauer SSP2

• Today (2025): 69,026 people
• By 2030: 72,171 · +4.6%
• By 2040: 79,366 · +15.0%
• By 2050: 87,847 · +27.3%
• By 2075: 112,714 · +63.3%
• By 2100: 135,682 · +96.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Cuban 1%
• Common ancestry: Scotch-Irish 13% Romanian 5% Lithuanian 4%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Garfield

• 2024 margin: Solid R (+53.8) · D 22.2% · R 76.0% · Other 1.8%
• 2008→2024 swing: -2.8pp toward R · 2008: -51.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.7 2016: R+53.5 2012: R+52.5 2008: R+51.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.69%
• Current HPI: 157.6739
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+171.1% since first listed

4 events — show timeline

• 2026-02-06 Sold (Public Records) $61,000 Public Records
• 2025-12-05 Listed $75,000 Fizber.com
• 2023-08-11 Sold (Public Records) $45,000 Public Records
• 2001-12-05 Sold (Public Records) $22,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $519 · -7.7% YoY. Source: county tax records.